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11606 Cecil Summers Court Houston, TX 77089

4 Beds 2 Baths 2,085 sqft Built 2004

$265,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $127.10
  • 6 Days on Market
  • MLS # : 25092557
  • Updated Date : 02/03/2021 at 14:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,085 sqft
  • Baths : 2 full
Listing Agent

Discover Houston Realty

Listing Agent's Description

NO SHOWINGS UNTIL MONDAY 2/8/21. Welcome Home! This beautiful one story home sits on an oversize lot nestled in the highly desirable Riverstone Ranch subdivision. The pride of ownership shows in this meticulious maintained home and features 4 bedrooms, 2 bathrooms, tile flooring throughout the entire home, and an updated kichen. Every inch of this home has been touched with updates from the kitchen to the floors. The kitchen features a gas cooktop range, granite countertops, breakfast area, and serving/bar area. Formal dining room gives you pleanty of space to entertain and is open to the large family/living room. Split floorplan allows for privacy with the master bedoom nestled in the back of the home. The premium lot makes for a huge backyard where the possibilities are endless. Enjoy everthing Riverstone Ranch has to offer and enjoy the stunning lakes, clubhouse, pool, playground, and walking trails. Conventiently located to beltway 8, I-45, and hwy 288.

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Riverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k270k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Riverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9691869

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
South Belt Elementary School Primary Regular 542 37 7
Thompson Intermediate School Middle Regular 939 57 6
J Frank Dobie High School High Regular 4,010 223 5

South Belt Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 37
7
GreatSchools Rating

Thompson Intermediate School

  • Education Level: Middle
  • # of students: 939
  • # of teachers: 57
6
GreatSchools Rating

J Frank Dobie High School

  • Education Level: High
  • # of students: 4,010
  • # of teachers: 223
5
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$920
Property Tax -$664
Property Insurance -$168
HOA -$56
Property Management Fees -$99
CASH FLOW
$93

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,815

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,000

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 11606 Cecil Summers Court Houston, TX 4
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 9331 Stoneridge Canyon Lane Houston, TX 1
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 2002
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 11223 Riverridge Park Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2002
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 2014 Hughes Ranch Road Pearland, TX 3
    • 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 2015
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 2015 Thunder Ridge Way Pearland, TX 5
    • 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 2015
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
PROPERTY LISTING DETAILS
Angela Ojeda
1.713.478.0021
Discover Houston Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 25092557
Last Updated: 02/03/2021
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